Question: Suppose you purchase one Texas Instruments August 70 call contract quoted at $7.00 and write one Texas Instruments August 80 call contract quoted at $5.

Suppose you purchase one Texas Instruments August 70 call contract quoted at $7.00 and write one Texas Instruments August 80 call contract quoted at $5. If, at expiration, the price of a share of Texas Instruments stock is $78, what would be your dollar profit?

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